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27 Years
4.4 Star
1 Crore +
RBL Bank announced Q4FY24 & FY24 results:
Q4FY24 Financial Highlights:
- Operating profit grew 49% YoY & 16% QoQ to Rs 887 crore Net Profit grew 30% YoY & 51% QoQ to Rs 353 crore
- ROA of above 1% for last 5 quarters (excluding contingency provision created on AIF investments in Q3FY24)
- Q4 ROA at 1.08%; ROE at 9.73%
- Net Advances grew 20% YoY & 5% QoQ to Rs 83,987 crore
- Retail Advances grew at faster pace; grew by 30% YoY & 6% QoQ to Rs 49,147 crore; Retail: Wholesale mix was 59:41
- Retail Disbursements for Q4FY24 was Rs 6,163 crore; of which Rs 2,009 crore was towards new secured retail products
- 6 lakhs new customers added during the quarter
- Total Deposits grew 22% YoY & 12% QoQ to Rs 1,03,494 crore; CASA Ratio at 35.2%
- Deposits less than 2 crore grew 24% YoY & 6% QoQ to Rs 43,753 crore; at 42.3% of total deposits.
- Overall Capital Adequacy was 16.18%; CET 1 was 14.38%.
- Average LCR was 140%
- GNPA down 72bps YoY & 46bps QoQ to 2.65%; NNPA down 36 bps YoY & 6bps QoQ to 0.74%
- Provision Coverage Ratio including Technical Writeoff was 89.8%
FY24 Financial Highlights:
- Operating profit grew 38% YoY to Rs 3,031 crore
- As per RBI directions dated 19th December 2023; Bank had created contingent provision of Rs 115 crore on AIF investments in Q3 FY24
- Excluding this contingent provision, Net Profit grew 42% YoY to Rs 1,253 crore; Reported Net Profits grew 32% YoY to Rs 1,168 crore
- Excluding this contingent provision, ROA was 1.03% vs 0.83% for FY23; Reported ROA was 0.96% for FY24
- Retail Disbursements for FY24 was Rs 21,909 crore vs Rs 12,903 crore for FY23; of which Rs 7,478 crore was towards new secured retail products in FY24
- 27 lakhs new customers added during FY24
In reflecting on this quarter's achievements, R Subramaniakumar, MD&CEO, RBL Bank remarked, “We're pleased to report another period of robust financial performance. Our advances and deposits have shown substantial growth, with a notable improvement in operating leverage. We're witnessing the fruition of our strategic initiatives, as momentum builds and our efforts in various areas yield promising results.”
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